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To the HOnorable Mayor'and,c.,ity Council <br />- From the C,ty ManagerJ <br /> <br /> December 16, 2002 <br /> <br /> Subject <br /> Council Audit Committee <br /> <br /> Recommendation <br /> It is recommended that the City Council adopt a resolution establishing an Audit Committee <br /> comprised of three City Council members. <br /> <br /> Background <br /> At the November 18, 2002 Council meeting, the City Council by motion (Minute Order 02- <br /> 347) unanimously approved a recommendation from Council Member, Ira Ruskin, to <br /> establish an Audit Committee of the City Council with the following pdmary responsibilities: <br /> <br /> · Selection and ~'etention of the City's independent financial auditor; <br /> · Set the independent auditor's annual.work plan and determine a special focus of such <br /> audit; <br /> · Receive progress reports and the final report from the City's independent auditor. <br /> <br /> The Audit Committee will be appointed by the Mayor and will consist of three Council <br /> members who may, but do not necessarily have to be, members of the City Council's <br /> Finance Committee. <br /> <br /> The Council's interest in establishing this committee is to bring greater Council involvement <br /> into the oversight of the City's finances and to provide another "check and balance" of the <br /> City's financial matters. <br /> <br /> Ira Ruskin <br /> Council Member <br /> <br /> <br />